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CNN
Jun 16, 2013 12:00pm PDT
, a world economy in turmoil. derail america's economic comeback. christine romans has answers. "your money" starts right now. >>> another week of volatility in the markets. the reason, we global unrest and uncertainty about the fed's role in propping up the economy. i'm christine romans, this is your money. from space, earth appears peaceful. take a closer look. while signs point a u.s. economy ready to take off, the rest of the world is struggling to take flight. riots in turkey. slowing growth in china. unrest over harsh cuts in greece. from extreme greed to extreme fear. concerns over a global recession already creating volatility for investors. this week saw the biggest single day decline on the dow this year. >> i would give our economy a b to b plus. >> the other guy getting a d is dragging us down. >> why might you not be feeling optimistic? housing prices on the rise. less unemployment numbers. but will the u.s. be dragged down by a world economy in turmoil. >>> want to bring in keith, ceo of risk management and michelle myers, from bank of america. let me start with you, keith. yo
FOX Business
Jun 19, 2013 1:00pm EDT
? this global economy. certainly, ups is a definite no whether to where we are headed. right now, checking out stocks. nicole petallides on the floor of the new york stock exchange. nicole: the dow jones industrials down about 28 points. not to off the unchanged line. there is this wait and see mode today. the last trading days have been up more than 100 trading points. the volatility is back. it has been the name of the game since may 22. we heard that tapering maybe in the future. right now everyone is just waiting to see what the fed really has to say. the language is so key here. everyone is waiting to see. right now you can see that the dow is down just slightly. lori: you summed it up beautifully for us. we will get one of the most federal reserve statements ever and less than an hour. will we get any clue as to when tapering will begin? thank you so much for joining us. what are you expecting to hear from the fed today? >> i expect no change. the statement is key. i will look for the labor market. is this the best that we are going to get? if, yes, i expect the taper to put off. lori: o
CNBC
Jun 18, 2013 7:00pm EDT
today, and roughly 2% under performing economy, there's just no reason for interest rates to jump higher. the u.s., by the way, is really the only global stock market game in town. our companies are profitable. so at these levels it may not be roaring bullish. i don't think the fed is going to taper down tomorrow, and i do believe the bull market is far from over. that's my take. let's welcome kenneth heed ner. and i'm joined by george gilder. he has the book "knowledge is power." ken, what say you? >> i say that we have a number of years of growth ahead of us in the economy. it's growing at 2%. it's going to accelerate as consumer confidence rises with rising housing prices. we'll see 3, 4, 5% growth rate. >> 3, 4, 5%, those are big numbers. you had an okay housing number today but housing starts are up 29% on year. here's my inflation point. the year-to-year cpi, 1.4%. guys like me two years ago worry about inflation, money printing, i was wrong. i said that before. the best set indicator, 1.0%. without inflation, why should inflation rates have to go higher? >> they go a little bit hi
CNBC
Jun 19, 2013 7:00pm EDT
not be until december or early next year. third point, the u.s. economy's still only growing sluggishly, only 2% growth. just about 1% inflation. modest profits. falling gold. and a steady king dollar. interest rates in my view are not going to skyrocket. there's more money to be made in stocks. the second half is going to be a slower slog than the first half. okay? that's my take on the story. here now we bring in former federal reserve governor frederick mishkin, currently an economics professor at columbia university. welcome back, rick. i just want to ask you, this is a very complicated news conference and a lot of people are saying many different things. first of all, let me ask you if i have the story right. i heard the news conference. the fed will slow down bond purchases toward the end of the year. is that what bernanke said? >> i think what they're trying to do, they've been very concerned, i'm sure, about all the volatility in the markets. and they want to make sure that people understand that in fact they are going to get out of this purchase program, which raises a lot of complicat
FOX Business
Jun 19, 2013 5:00pm EDT
. never say die guys. >>> what has really changed. for the fifth time ben bernanke says though the economy sim proving they're sticking with the 85 billion a month bond buying program for now. but in sorting through his intentionally confusing remarks the market got worried the punchbowl would go away and all we would be left with is a hangover. bond sold off too. there are winners and losers. we'll tell you where you fit in. joining me now harvard economics professor, jeff marron. thanks for coming on the show. >> nice to be here. melissa: first and foremost, i watched the whole entire thing and the press conference afterwards. my goodness, it was long and boring but the markets gyrated up and down and they got something out of it. what did you make of the whole exchange? what was your take away? >> my overall take is that the fed is saying that they see the economy as gradually improving and the market data and market forecasts and all that are saying the same thing. so that means it is getting harder and harder for the markets to convince themselves that these low rates are going to las
FOX Business
Jun 20, 2013 11:00am EDT
. bernanke said the fed could slow its bond line program later this year, as long as the economy keeps growing and unemployment falls. in a note to clients, renaissance marker research said we suspect the markets are significantly overreact into the process of tapering. rbc capital markets said one of the big surprises in bernanke's press conference was that the chairman did not attempt to walk back the recent rise in interest rates. bernanke said yesterday that tapering really was not that bad. kind of like taking your foot off the gas pedal in the car and hitting a nice cruising speed, not hitting the brakes. >> what he is doing is a lot like monetary drunk driving. >> we will get more clarity at the end of july. connell: thank you much. brian jacobson for us next. it is always good to have brian's point of view. to what level is your anxiety level at this stage? >> my anxiety level is very low. i understand that they have a centrally planned economy. they can marshal resources to prop up their banks if necessary. i am not concerned about the federal reserve cutting back on their ass
FOX Business
Jun 17, 2013 6:00pm EDT
. thank you for coming on tonight. >> no problem. gerri: in an unrelated story, is the economy about to hit the brakes? there has been slowdown for the past three years. kennedy avoided if this year? with more on this, we have with sam saunders a chief investment strategist for charles schwab. i want to get to this idea of the economy in just a second. but first, i would like you to respond to this pink newspaper about how ben bernanke may indicate exactly what he's going to apply the brakes on easing this week. we expect to hear from him on wednesday. what do you say? >> i'm not so sure that that is shocking news. this has been building to the point where it actually starts tapering off. they have been transparent. to think about this a few months in advance, i'm not so sure that i understand why this is newsworthy be one you may be calm, but the markets were not. where do you think the professional traders are thinking about this right now? >> the market is having little tantrums. but it's not a big surprise. we know what the fed has done is unprecedented with quantitative easing a
CNBC
Jun 19, 2013 11:00pm EDT
about how the economy is still a bit dicey and jobs aren't being created fast enough. now they're thinking he just wants to put everybody to work, he's not worried about the bonds. bondholders are saying to heck with this, you're not going to protect us, economy is way too strong for bernanke to keep buying bonds, he can't keep rates down, he shouldn't even try. the owners of bonds aren't as worried about the ongoing drag of the federal government that bernanke's fretting about and talked about today. they aren't worried about higher taxes, sequester spending cuts or any lack of any serious attempt by elected officials to get hiring going. they are selling their bonds right now before things get so much better that those bonds will be worth even less! to understand how bonds work i've got to do something different because i know a lot of people can't tell the difference between a stock and a bond. so i'm going to -- i'm going to do a little fictional analysis here. imagine that the united states is a publicly traded company. and it's got this really counterintuitive stock that
FOX Business
Jun 20, 2013 4:00pm EDT
many financial stocks particularly those exposed to the domestic economy. david: okay. >> the u.s. is well-capitalized -- david: i have to put you on pause there when you're on financials. we'll take issue with you. we have earnings coming in from oracle. jo ling kent what do the numbers look like? >> dave, we have an 87 cents per share eps which is exactly as expected. $10.95 billion which is a miss on revenue. breaking down numbers a little bit, we see a quarterly revenue of $849 million. what is interesting, new software license revenues were up 1.4% to 4 billion. they were expecting to see this go from, between 1 and 11% that is certainly on the low end. that is a very important area for oracle to grow especially if other companies get into this market. david: i want to go back to todd. we have a lot of news to cover i don't want to focus on any one stock but does this tell you anything about oracle? >> this is common throughout the entire earnings season. miss on the top line. that is the whole story. oracle looks pretty good chartwise. with the current market conditions it
FOX Business
Jun 20, 2013 7:00pm EDT
in the way of strength six months out. >> i think the market raises strong free economy. hastens the day that the fed starts tightening. add to that bernanke's laying down of punitive timetables which he said umpteen times is tentative. may not to a defense and the economy. the market does not want to hear any of that. if he says that the assumption is, oh, he will stop doing it tuesday are something like that, which is that going to. lou: he made big references to inflation. he made references to unemployment or at least the six and half percent level as part of construction for his decision . is a little surprising to me. and it suggested that he does want to accelerate things year. are there signs that this quantitative easing combined purchasing program, this is having a negative, a deleterious effect on the fed's goals? >> i do not believe so. it is not -- it is not the sort of thing you would think would drive down inflation. inflation has fallen well below the fed's goal, but -- but the people who are worried about qe are worried about the other direction, inflationary. it probabl
FOX Business
Jun 21, 2013 8:00pm EDT
market in the end we have to ask ourselves is this economy ready. therthey see bernanke stepping k saying it will not happen immediately but it is going tt happen. it has the investors very concerned. charles: and economy bumping along at 2% per year, is it worth it? >> we should not lose sight of the fact ben bernanke, is reflected the most basic level the economy is improving. we are not facing the crisis we have faced for so many years now. reacting to what the meanings of these things are, but i choose to see it as the cup half full, getting the worst behind us. which is very encouraging news. charles: at them, what do you make the idea of the stock market should come down hard and fast what is supposedly good news. >> everyone who is in the market has to choose what it is they are interested in as an investor please send i am an investor. i don't care what happens today or yesterday with my personal investment in the way i approach the market, that is somebody else's problem. those people i am not saying they'rr using poor judgment or acting irrationally, i choose to understand that
FOX Business
Jun 17, 2013 8:00pm EDT
it is going to go higher? >> dramatically over forecasting the economy. fourteen years, the last one ended and there's never been 14 years like that. we are going to have wage growth of 5.3% a year. so if you adjust real world super economics, you're looking at this. neil: sometimes you cannot not so sober and surprises. like 14 years ago you could have argued this. you could have pleasant surprises. neil: what you think about this? only bring you an internet boom? >> well, edge was a technological development and a great thing. neil: we are not always sold by3 this. >> the fed clearly is. we have a decade packed with zero interest rates and we are not always intervening in this way. >> well, they ought to stop right now. but the market is totally hooked on this monetary heroism. then they will begin to taper back or reduce the 85 billion. neil: so they should resist the hissy fit and moveon? >> yes, that is what they have been unwilling to do ever since greenspan punted in 1998 at the long-term capital time. time after time they have been doing the same thing. neil: how much higher do you
CNN
Jun 19, 2013 11:00am PDT
anticipated meeting on the economy. and the result of that meeting could affect your retirement savings, your ability to sell your home, buy a home, your 401(k), your cash. the list goes on and on. as we know, everyone sits with bateed brea bated breath waiting for the voice of ben bernanke. christine roman, good to see you. we're hoping you can translate some of the fed speak in language we can all digest. i know this is your beat. tell me, we're awaiting this statement. what will you be listening for? >> what we know is we have seen the statement. we know there's no change in the amount of bonds the fed is going to keep buying, that stimulus into the economy. no change in its interest rate target. really i would say overall no change from the fed right now. and that is what so many people wanted to know. will the fed chief, will ben bernanke, continue to stimulate the economy. they're putting $85 billion every single month right into the economy by making these bond purchases. what we can tell you, the statement from the fed, that's going to stay the same. they are not announcing how, when,
FOX Business
Jun 18, 2013 6:00pm EDT
of this economy? >> we are not doing well. as he said, unemployment remains very high, double digits for comprehensive measures of unemployment. gerri: one of the little secrets of thii economies that interest rates are so low that if you're a senior or savior in 10 favor, you're getting nothing for your money. >> that a strike would have a big stick what the fed does. everyone's credit cards, car loans, higher. it is going to go there to interest rates are going through the roof. let's say that you have an adjustable rate mortgage by the interest rates. >> that is a problem that we want to have is an economy that is growing so rapidly. a lot of people need to understand how we need to slow it down. gerri: douglas holtz eakin, thank you for coming on. we are so privileged to know you. thank you. my "two cents more" on what will happen when the fed makes its decision, if it does come at the end of the show. later in the show, we'll be speaking with the former state victims advocate from connecticut. she will bring us the latest in the fight to bring the charity dollars to those who ne
FOX Business
Jun 21, 2013 3:00pm EDT
economy wise that could come to fruition in the next couple of months. however, i think right now we have overcome it. in the next couple of days we are going to get back above $95 in crude oil. >> all rightquickly on japan. >> you know, everyone is talking about this right now. quantitative easing is the big thing. there seems to be a disconnect between china and japan. i don't have any clear-cut answer. liz: everyone needs to watch out. economics may not be what they seem. thank you for joining us. have a good weekend, guys. investors are switching away from oracle stock. this after the company's earnings report failed to excite anyone here. >> that is right, there is a lack of quarterly numbers that came out. revenue was a disappointment. see the stock isn't down 9% and it has been sitting there all day long. it sat there all day. what is also big news is we know the nasdaq and the new york stock exchange and anybody who knows these two know that they battle it out. they battle it out. oracle will be the largest to leave the nasdaq and come over to the new york stock exchange. that was
FOX Business
Jun 21, 2013 5:00pm EDT
this much improvement in the economy versus this much distortion of every kind of asset class investors have a choice of. it is time, isn't it? melissa: that is not really what we're talking about. we're talking bu with the chaos that ensued this week. for example, let me play the sound bite president obama basically fired ben bernanke and charlie rose. we will get both your reactions on the other side. president obama: i think ben bernanke has done an excellent job. he is like fiv bob mueller. he stayed a lot longer than he wanted or he was supposed to. >> but if he wanted to be reappointed, you would reappoint him? president obama: he has been outstanding partner along with the white house. melissa: what? that is nottreally a ringing endorsement. that is like somebody saying how is your husband? that is like somebody saying he has been outstanding partner until now. >> anybody can be a loose cannon, it is just odd it is the president of the united states? melissa: was that a loose cannon? >> he is not going to jackson hole, that was a little odd. he has been telegraphing things and a lot o
CNN
Jun 20, 2013 6:00am PDT
.s. economy, but there would be a road map for when they would stop doing that. the u.s. economy was strong enough to get on its own two feet and unemployment rate got back 7%. take their foot off the accelerator is the way the fed chief put it. overnight, world markets started to react saying all the markets that had benefitted from the big flood of fed money into the world economy and all markets having a pull back to what would be the reality when the fed is not in the game. you see the dow down about 69 points right now and down 72. we'll continue to watch. we have seen triple-digit declines the last six or seven days in a row, carol. >> then it goes right back up. such a weird thing. >> very volatile and i'll let you know how this is playing out and whether they can absorb it all right today. >> thank you, christine. >>> other stories we're covering this morning. senate negotiators are expected to announce a deal today on an immigration reform bill that would increase border security as cnn first reported yesterday. the plan would double the number of patrol officers from the current l
FOX Business
Jun 19, 2013 9:20am EDT
indicator. how good is the economy generally? fedex earnings tell you. they're telling us that business is pretty good. so, nicole, what's happened to fedex stock in the early going? >> what we're seeing is the stock is up 1.7%, and international package volume is lower, and they face intense competition, they said that the folks were switching from the more expensive price here, premium package sending to lower cost options and the stock is up 1 1/2%. so, i don't know, enlighten me. and what is the good news here? it didn't seem like good news to me, or at least not yet. >> i'll give you good news from an investor point of view. >> what more do you want, young lady? okay. i checked the dow, as we suggested, flat to slightly lower, and 15 seconds of business. two other stocks that we're watching, tesla, they recalled 800 of their model s electric cars, there's a problem with the mounting bracket in the back seat. it's dead flat this morning and then dreamworks animation, they put the shrek franchise and more on netflix and make an animated series for netflix and their television busines
CBS
Jun 17, 2013 7:00pm EDT
the economy. today rouhani signaled a new more open approach. "we are ready to show more transparency to the world" he said. rouhani is 64 years old, a cleric with a law degree from scotland. he's also known as a bridge builder who was once iran's chief nuclear negotiator. in 2003, he put that program on pause to pave the way for talks with the west. sir richard dalton, back then britain's ambassador to iran, said rouhani could steer the way to talks again. >> provided by the united states and its negotiating partners come forward a little way to meet iran it should be possible to get a first stage confidence building agreement on the nuclear question. >> reporter: asked specifically today about iran's relations with the united states, rouhani said "there's an old wound between the two countries that needs to be healed." jubilant iranians spilled into the streets to celebrate rouhani's win. although they won't know for some time just how much of a reformer he turns out to be. >> pelley: elizabeth palmer is joining us from our london bureau. elizabeth, if this is reform, why is it happ
FOX Business
Jun 15, 2013 9:00pm EDT
the mexican economy h done better. we buildger, stronger fences. john: as the border patrol now we are here? >> oh, yes. john: hou later they showed up. >> filming a segment. i intend donald -- n donnelly. john: after that t left them alone. once more fences. >> is this your ideal fans? >> this is gd. it forces people who want to smuggle somethin to go to a high point where law-enforcement border patrol agents can eily see they have been interdicted. we oug to secure it. john: a problem with the current fans. >> here is this biggeffective miti dance. impervious, scalable. then all the sudde it just hands. this right he is absurd. >> despite the billions we have spent, there are still lots o balls in the fence especially the older part. >> this looks like a ptty good-sized already your. >> this is an area thate have volunteers who came down with a welding track and well that up these holes. i mean, it is patchwork. >> i'm touching mexico. john: not that hard to get over the fence. drug dealers build ramps. this car happens to get stuck. nnedy found it was pretty easy to climb theence. >> you
FOX Business
Jun 18, 2013 3:00pm EDT
firm in the economy and therefore we can afford to get off of this morphine drip that has been the $85 billion bond buying program every single month. >> i think you hit the nail on the head which is why we have seen so much volatility in the markets because i am saying that glass had -- glass half full of the glass half full? and i agree with you in the sense. look at it as good news and bad news. eventually people will look at that and say, wait a second. this is positive. time for the patient to come off a life-support and see if they can read by themselves. if you read the tape today i agree with doreen in the sense that it is on very light volume, but i find it quite encouraging that the market held on to the 20 day moving average ahead of the fed after showing the witness that we saw yesterday afternoon. liz: and we have on the screen the leaders of all different types of names. really more leaders that laggers pushing this market higher, and then we get to a very interesting move for crude oil. today when you look and see that we are now well above $98 per barrel, you have to fi
FOX Business
Jun 20, 2013 5:00pm EDT
with a market massacre. ben bernanke saying if the economy continues to improve he will cut back on his 85 billion-dollar a month bond buying program by the end of the year. that reality terrifying wall street. because the market may have to stand on its own two feet. combine that with a massive credit crutch in china and u.s. markets got absolutely slaughtered today. the dow closing down a staggering 353 points. look at that. 2.3% there. if you control down on this market massacre, christian dorsey from the economic policy institute. sam stovall, chief equity strategist at s&p capital iq. gentlemen, thanks so much for joining us. sam, shouldn't have been that big after deal. all ben bernanke said, if the economy continues to improve we may taper back on the buying by the end of the year. not that they will stop it all together. not that they will sell what they already have. look at the big gyrations we've seen. doesn't that tell you how ugly and messy this does point -- dismount actually will be? >> it tells me more, melissa, we're end of june which is quarter ending month a lot of portf
FOX Business
Jun 21, 2013 10:00pm EDT
weekly gai in four years. the soer the fed pays it out, presses on buying. hurting the economy more than it has helped. editor-in-chief steve forbes, great to have you with us. qe appears to be at an end, sort of. $85 billion continues, the res are moving hher, so that will be problematic. your thoughts onhe timing on all of this by the fed chairman. >> three years late, better late than never, what b bernanke has done inadvertently ts make it easier for the government to deficit snding, get back on thei feet, issue new bonds but for the rest othe econy, smaller businesses like with what they said in russia, health care is free but you can't get any. they are the job creators, they are hurt by what bernanke did. not much left for the small guys. lou: a lot of limited government, some of them are anti-fed. oh, my gosh, we cannot conclude it a $5 billion per month. i do not like what he has ne, bbt don't let him reverse course here. there is a chorus of hypocrisy in pleading for more punch bowl, please. >> it is hard to give up when you have it. bernanke will not dothis precipitously, will
FOX Business
Jun 21, 2013 1:00pm EDT
within the economy. you point out that highs in his -- house is a primary beneficiary. the fed is as responsible for managing as they are for anything else. to the extent that they're looking to manage the bubble that has formed, whether it be equities, the form of stocks, housing, absolutely. this is part and parcel with the context for the fed is basically saying at some point we're going to have to pull the punch bowl away from the party. it looks like sooner than later, and this speaks to that. ashley: from an investor's point of view given the volatility in stopping this, you expected will continue through the summer, what can you do as an investor to play in this environment? >> in this type of environment you want to manage risk. that is the first quarter of the day. you want exposure. and if you have the decisions that you feel compelled and meet your objectives, you can hold on to them and hopefully there are dividend payers and certainly they have a very consistent track record in terms of equity performance and driving revenue top and bottom line growth. expose yours
FOX Business
Jun 17, 2013 11:00am EDT
recovering in the housing market or the economy overall, i don't think they will do anything. connell: not so much we have come to terms, it is just we don't think it is going to happen. you would remain pretty optimistic about the stock market. >> i am. it actually targeted june 11 and 12th. i thought the backdrop was going to be out of the german constitutional court hearing objections to the constitutionality of the european stabilization mechanism. it turned out to be japan. maybe underinvested crowds pay up for investment reasons, and in the process of putting in a pop that would put in the first decent pullback this year the july, august timeframe. connell: we will need to see some sort of decent pullback. where is that??% what is the intermediate topic you're talking about? >> $16.87 on an intraday print high, the other downside reversal day simultaneously you hit the upside reversal in the japanese yen against the u.s. dollar causing some issues. will try do trade backup to that high. if we turn down, you will get a premature turn back but we should make a slightly higher high and som
FOX Business
Jun 18, 2013 11:00am EDT
/11 to the american economy? trillions of dollars. think about the lies that have been saved. they will only tell us about a couple of those. they have to be careful about sources and methods. still needs oversight. congress should be looking at it closely. i am pretty comfortable with what they have laid out so far. connell: speaking of september 11 and attacks on our financial industry, general alexander have the following quote talking about rather being here debating this point in trying to explain how we failed to prevent another 9/11. do you think that these programs , you know, the internet surveillance or the phone collection, in terms of records, do you think that that would have prevented september 11? >> they did say something to this effect. he said they may have been able to track one of the 9/11 hijackers if they had this program before 9/11. that is if i heard it correctly. that tells you something. who knows where we would be today in our history if they would have been able to do that. connell: supporters of the nsa leaker say he has been able to prompt or develop this discussion th
FOX Business
Jun 16, 2013 9:00pm EDT
, three,our, five times. john: four years lat, fewer cross illegally because the mexica economy has doneetter. we build bigger, stronger fefences. john as the border patrol now we are here? >> oh, yes. john: an hour later they showed up. >> filming a segment. i intend donald -- ten donnelly. john: after that the left them alone. once more fences. >> is thisour ideal fans? >> this is good. it forces people who want to smuggle something to go to a high point where l-enforcement border patrol agents can easily see they have been interdicted. we ought to secure it. jo: a problem with the current fans. >> here is this biggeffective miti dance. impervious, scalable. then all the sudden it just hands. this right here is absurd. >> despite the billions we have spent, there are still lots of balls in the fence. especially the older part. >> this looks like a pretty good-sized already your. >> this is an arerea that whave volunteers who came downith a welding tra and wl that up thes holes. i mean, it is patchwork. >> i'm touching mexico. john: not that hard to get over the fence. drug dealers
FOX Business
Jun 19, 2013 11:00pm EDT
it a turn around in a sign maybe the global economy is turning ? >> i do not aee. i think when revenues drop, there are all sts of ways that customers as we've seen, that can impact the bottomine, by one, just being mere efficient. -- more efficientbut what a revenue dropsith a fedex or ups that is a sign of the economy not only flat lining but continui to slide down, that is why i think that we're going to be in trouble. yo know come next few months. ne: dave, topine thing begins top out, watc watch out. >> a gd news-bad news thing with them, revenueas up a little bit but not to exctations, and on thatront, i wld say, yeah that is not a good signal about the economy. not a big beats. neil: but. down a broad. -- abroad. >> it was down. neil: speaking of a quagme not getting any less qaagi e . >> you are right. >> here is the thing. using technology to drive costs out. the math they continue to do that that is a good sign because everything needs to do that. neil: l right, if at first you don't succeed find a better way to get them tpend, walmart all but admitting be on visa, temping to dislo
FOX News
Jun 22, 2013 3:00pm PDT
legally while bringing relief to a struggling economy. >> this bipartisan common sense bill will help the middle class grow our economy and shrink our deficits by making sure that every workinger in america practice plays by the same rules and pays taxes. >> senators introduced a bill that would bolster border security. the measure includes 700 miles of fencing along the u.s.-mexico border with the addition of tens of thousands of border agents. it also enforces a nationwide everify system and needs to be in place before illegal immigrants can apply for green cards. with all the support it has, there is still no guarantee this will fly through the senate before the fourth of july recess. >> this current bill is a mess. it is repeating the same failed pattern we saw in 1986. today instead of 3 million people, we're dealing with 11 million people who are here illegally. and what congress is saying is the exact same deal, which is legalization first and then they're promising maybe some day in the future the border will be security. >> senate leaders took a crucial test vote on this plan
MSNBC
Jun 19, 2013 7:00am PDT
for immigration reform. it debunks the idea that immigration reform is anything other than a boon to our economy and robs the bill's opponents of one of their last remaining arguments. >> realistically, congressman, do you think the cbo report will convince any of your republican colleagues to vote for this? >> i hope those that have been harping on the idea and mimicking the heritage report that said it was going to cost trillions of dollars to the american taxpayer, this debunks it, as the senator said. i would hope that those that have harped the loudest about the cost and about the expense to the american taxpayer will now realize that their argument has no standing. it is baseless, and it's not true. and in that sense, hopefully that will tone down the rhetoric and we can have an opportunity to have a rational, adult conversation, at least in the house of representatives, where we need to go with this bill. which is the real jeopardy for comprehensive reform is in the house of representative. >> let's talk about that because and you other members of the congressional caucus will meet with s
MSNBC
Jun 19, 2013 12:00pm PDT
of this is because the economy and europe and america is still staggering in a lot of ways and when leaders like this are dealing with staggering economy at home, it's really hard to bring these issues to an international setting. >> let's look at it one other international setting with is immigration reform at home. speaker boehner will set a clear line saying he'll do the majority. the majority rule which for a lot of us means the house republicans are going to have the final word on immigration reform. do you think from your political analysis down there in d.c. that this is real and that this is a true line that's being drawn or is this a desire by him to exert leverage now while the senate is moving so he could get something he could move through the caucus. >> think he's drawing the line in the sand right now saying if the senate doesn't put in very big effort on border security, huge issue for house republicans and many senate republicans, conservative senate republicans, this won't stand a chance in my caucus. boehner has to do this because he's violated the guideline that says you can't
MSNBC
Jun 20, 2013 2:00am PDT
but it's not because of gas prices. aaa says the sluggish economy and people are taking less time off. >>> microsoft is reversing course now on its new xbox one game console. users will be able to play games offline without having to be connected to the internet at all. they'll also be able to lend and sell used games. it goes on sale this fall for $499. in the market, stock futures are lower after they got slammed wednesday following comments by ben bernanke that the federal reserve may soon start scaling back its economic stimulus programs. that's if the economy keeps impruchg bernanke says that doesn't mean an interest rate hike is imminent. we will, though, be watching the markets all day today. >>> homeowners can expect to pay a little less to keep the ac on this summer. according to the u.s. energy information administration, milder weather is predicted for the summer to help give some relief to those power bills. the average homeowner can expect to pay about $395 for june, july and august. >>> the second largest school system in the country plans to order ipads for every studen
MSNBC
Jun 21, 2013 2:00am PDT
borrowing will soon come to an end as the economy continues to improve. but as cnbc's maria bartiromo points out, there may be a silver lining. >> every time we've seen a sell-off of 5%, a lot of people were expecting a correction of 5% -- each time we've seen that, that selling has been met by buyers. they call it the so-called buy on the dip mentality. >> well, nbc's tracie potts is live in washington with all the details, including what all this means for homeowners. tracie, good morning. >> key point, mara. good morning, everyone. the impact of all this, maybe you're not heavily involved in the stock market, but if you're trying to buy a home, we've already seen interest rates start to creep up. they will likely creep up even more as the fed starts to pull back its support. that means you could have less for your money in terms of trying to buy a home. but take a look at what the housing market has been doing, self-correcting. in may, 5 million homes were sold. that's up about 4% in a month, up almost 13% in a year. the median home sales price right now, $208,000. that's up 15% over year
MSNBC
Jun 19, 2013 11:00am PDT
, this was a hot topic on "morning joe" this morning, the economy so much of this was supposed to be especially the g-8 focused on that and we saw transition with the developments regarding nsa. when we look back at when the president visited germany before he was elected and even just the climate of the austerity measures in europe versus the actions that he promoted here in the united states and the face of both of these economies now, lends itself to an interesting discussion over what should be done to repair economies. >> reporter: you know, i look at this -- i want to look at this through the prism of obama/merkel relationship. they have become close. it was the financial crisis that brought them together. each was trying to pull the other to their direction. merkel was trying to pull the united states a little more austerity. president obama was trying to pull germany into saying you have to bailout all of europe. don't put such harsh crit era on what you're trying to do at the time during the great bailout. things like that. and they did sort of end up meeting in the middle and they're
MSNBC
Jun 20, 2013 11:00am PDT
this year because the economy is improving. it could also mark the beginning of the end of historically low interest rates. right now the dow is down. you see it on your screen, 227 points after falling 206 points yesterday. cnbc's kayla joins us live. kayla, the residuals still from bernanke's speech? >> tamara, i think we're going to be feeling the reverberations from that for a long time. all three averages are down 1.5%. you have gold which investors go to when they sell out of stocks. gold is down, too. you have bonds down also and the interest rates on those bonds are spiking. the ten year treasury is at a yield that it hasn't seen in nearly two years. stocks for their part have retreated. they've lost basically everything they've made in the last two months. you've mentioned it. it's somewhat ironic. a normal observer would say why is everything sell off because chairman bernanke said the market was doing better? there were all of these green chutes and signs up. there was an unprecedented amount by the federal reserve buying bonds, initiating pra ms to help stimulate the economy, an
FOX News
Jun 17, 2013 10:00am PDT
? >> a resounding no. the economy is going to continue to lift off. i think by november of 2014 the democrats are going to to be in a very strong position. the only way we move social in this country is by taking principle stands and sometimes have you to take a short-term political hit to move the country forward. >> speaking of honesty and trustworthiness, we just got fox news polls in moments ago which we'll bring you shortly. wow. this is not good news for the white house. gentlemen, thank you both so much. >>> we recently brought you the powerful story of the phoenix police officers who went beyond the call of duty for a 5-year-old girl. look at this picture. who lost her police officer dad to a hit-and-run driver. up next, a new twist as we learn the illegal immigrant accused of killing her father could now get special protection. we'll tell you why that is. >>> wait until you see what happened with the teenage fisherman who came face to face with a rare breed of shark and decided to go for a joy ride. all that as we have a former vice president and a brand new poll i just mentioned fro
CNN
Jun 17, 2013 10:00am PDT
: ironically an improving economy is to blame. >> unemployment is down. the stock market is doing really well. median home prices are up. people are feeling better. they're out there buying again. so the economy does well, you will see a rising rate environment. at 3.5% on a $250,000 home with 20% down, you pay about $898. the same 30-year fixed mortgage will coáu you 954 bucks at 4%. that's $56 more a month or $672 a year. down payment, credit score and d8income determine the rate youl pay. >> borrowers that are getting the best rate are putting 20% to 25% down. they have income that is documentable. so they're providing w-2s and federal tax returns. and they have an excellent r credit score. something over 700 or 720. >> reporter: a quick closing at a time also helps. >> you get your best rate from a lender if you lock in for 30 days. standard to lock in for 60 days. the longer you go out, the more expensive it will be. >> reporter: ask your lender about a float down provision so your rate could be adjusted lower if rates do slip again. if you're still looking for the right house, make sur
FOX Business
Jun 15, 2013 6:00am EDT
and in our economy right now. i do not doubt that people do want to hear this. i think it is unrealistic of them to one cngressr individual congresspeople to be their heroes. the syst just isn't set up for this collective body to produce a hero. i don't think there e any easy answers to the problem might not. neil: no one was expecting this. no one wasxpecting it at all. so maybe we stumbled upon i when we least expect t. >> i agree wit adam i think that they're oureroes outthere. and they do sh up in the campaign tailand they are wrote. when they get into he system, something turn some away from what they intended tt do when ey first set out the. neil: what do you think? >> i thinkthat the system is set up for them not to emrge as heroes. that is not a bathing. we elect tem to go t washington and fight for us. i agree tt things e not working as well as we wish that they would. ut it is going to be confrontational. it is going to be messy. its not set up for one person to rise up and say, i will sve all of this for you. >> we have had a lot of people do this. >>t the ment you do not real
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